Latest Ratios: P/E Ratio 10.4x · EV/EBITDA 11.0x · ROE 7.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.4B | $2.1B | $1.4B | $1.4B | $1.4B | $1.5B | $1.2B | $1.5B | $1.2B | $1.3B | $1.1B |
| Enterprise Value | $2.7B | $2.4B | $1.1B | $1.2B | $2.1B | $1.3B | $979M | $1.5B | $1.4B | $1.7B | $1.3B |
| P/E Ratio → | 10.43 | 16.18 | 11.90 | 11.39 | 10.79 | 12.33 | 11.78 | 14.71 | 12.21 | 20.65 | 21.99 |
| P/S Ratio | 3.88 | 2.95 | 2.94 | 3.17 | 3.08 | 3.76 | 2.94 | 3.76 | 3.64 | 4.49 | 4.74 |
| P/B Ratio | 1.03 | 0.86 | 0.98 | 1.10 | 1.21 | 1.15 | 0.93 | 1.24 | 1.21 | 1.38 | 1.83 |
| P/FCF | 10.88 | 12.20 | 7.89 | 8.52 | 8.63 | 9.68 | 7.43 | 20.19 | 6.33 | 5.42 | — |
| P/OCF | 12.57 | 11.01 | 7.61 | 8.05 | 8.37 | 9.38 | 7.24 | 17.17 | 5.96 | 5.10 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.38 | 2.44 | 2.72 | 4.62 | 3.28 | 2.44 | 3.63 | 4.14 | 5.88 | 5.82 |
| EV / EBITDA | 10.97 | 11.23 | 6.49 | 6.80 | 11.09 | 7.14 | 6.27 | 9.23 | 9.10 | 13.71 | 15.18 |
| EV / EBIT | 14.63 | 13.02 | 7.36 | 7.80 | 12.85 | 8.43 | 7.64 | 10.89 | 10.25 | 15.66 | 17.51 |
| EV / FCF | — | 13.98 | 6.56 | 7.33 | 12.92 | 8.42 | 6.16 | 19.50 | 7.19 | 7.10 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 92.7% | 92.7% | 98.1% | 99.5% | 99.0% | 103.7% | 90.3% | 97.4% | 98.7% | 98.2% | 97.6% |
| Operating Margin | 25.9% | 25.9% | 33.2% | 34.9% | 35.9% | 38.9% | 32.0% | 33.3% | 40.4% | 37.6% | 33.2% |
| Net Profit Margin | 18.8% | 18.8% | 24.6% | 27.8% | 28.5% | 30.6% | 25.0% | 25.5% | 29.9% | 21.8% | 21.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.0% | 7.0% | 8.6% | 10.1% | 10.4% | 9.5% | 8.1% | 9.3% | 10.3% | 8.2% | 10.3% |
| ROA | 0.9% | 0.9% | 0.9% | 1.0% | 1.0% | 1.1% | 1.0% | 1.2% | 1.3% | 0.9% | 1.1% |
| ROIC | 5.8% | 5.8% | 6.3% | 6.0% | 6.0% | 6.3% | 5.6% | 6.5% | 6.5% | 6.0% | 6.8% |
| ROCE | 2.3% | 2.3% | 8.3% | 8.9% | 9.3% | 9.0% | 7.9% | 9.4% | 10.8% | 10.8% | 11.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.20 | 0.20 | 0.34 | 0.41 | 0.80 | 0.48 | 0.38 | 0.39 | 0.41 | 0.80 | 0.70 |
| Debt / EBITDA | 2.27 | 2.27 | 2.70 | 2.96 | 4.90 | 3.45 | 3.11 | 3.01 | 2.69 | 6.07 | 4.71 |
| Net Debt / Equity | — | 0.13 | -0.17 | -0.15 | 0.60 | -0.15 | -0.16 | -0.04 | 0.17 | 0.43 | 0.42 |
| Net Debt / EBITDA | 1.43 | 1.43 | -1.31 | -1.11 | 3.69 | -1.07 | -1.30 | -0.33 | 1.10 | 3.26 | 2.82 |
| Debt / FCF | — | 1.78 | -1.33 | -1.20 | 4.29 | -1.26 | -1.27 | -0.69 | 0.87 | 1.69 | — |
| Interest Coverage | 0.58 | 0.58 | 0.76 | 0.96 | 4.43 | 5.58 | 2.94 | 1.95 | 3.00 | 5.16 | 7.47 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.07 | 0.07 | 0.19 | 0.27 | 0.25 | 0.44 | 0.33 | 0.27 | 0.15 | 0.19 | 0.20 |
| Quick Ratio | 0.07 | 0.07 | 0.19 | 0.27 | 0.25 | 0.44 | 0.33 | 0.27 | 0.15 | 0.19 | 0.20 |
| Cash Ratio | 0.05 | 0.05 | 0.07 | 0.07 | 0.02 | 0.08 | 0.08 | 0.07 | 0.04 | 0.05 | 0.04 |
| Asset Turnover | — | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.6% | 4.3% | 4.0% | 3.8% | 3.7% | 3.3% | 4.1% | 3.0% | 3.2% | 2.4% | 2.1% |
| Payout Ratio | 67.3% | 67.3% | 47.6% | 43.3% | 39.6% | 41.1% | 47.8% | 43.9% | 39.4% | 49.0% | 45.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.6% | 6.2% | 8.4% | 8.8% | 9.3% | 8.1% | 8.5% | 6.8% | 8.2% | 4.8% | 4.5% |
| FCF Yield | 9.2% | 8.2% | 12.7% | 11.7% | 11.6% | 10.3% | 13.5% | 5.0% | 15.8% | 18.5% | — |
| Buyback Yield | 2.9% | 3.3% | 0.0% | 0.3% | 0.7% | 2.2% | 1.0% | 1.6% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.5% | 7.6% | 4.0% | 4.1% | 4.4% | 5.5% | 5.1% | 4.6% | 3.2% | 2.4% | 2.1% |
| Shares Outstanding | — | $89M | $58M | $56M | $56M | $56M | $55M | $55M | $49M | $43M | $35M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BUSE stock.
First Busey Corporation's current P/E ratio is 10.4x. The historical average is 17.2x.
First Busey Corporation's current EV/EBITDA is 11.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.5x.
First Busey Corporation's return on equity (ROE) is 7.0%. The historical average is 7.3%.
Based on historical data, First Busey Corporation is trading at a P/E of 10.4x. Compare with industry peers and growth rates for a complete picture.
First Busey Corporation's current dividend yield is 3.57% with a payout ratio of 67.3%.
First Busey Corporation has 92.7% gross margin and 25.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
First Busey Corporation's Debt/EBITDA ratio is 2.3x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Acquisition-driven earnings and capital opacity
Metrics are mathematically derived from official filings.
Discount to Book Reflects Earnings Uncertainty
Based on the reported figures, BUSE trades at 1.03x book and roughly 1.35x tangible book against a $21.37 tangible book value per share, a discount that suggests the market is pricing in lower sustainable returns than the headline earnings imply.
A P/B near 1.0x with ROE around 2.0% to 2.6% quarterly implies the market is not paying a premium for the franchise, and the trailing P/E of 19.48 versus a forward P/E of 11.56 indicates the market is discounting a large swing in reported earnings rather than a steady earnings stream. Investors should treat the forward multiple as dependent on whether the recent acquisition-driven revenue base proves durable, since the valuation gap between trailing and forward figures is itself a signal of earnings uncertainty. Relative to peers such as FFIN at 2.28x book and FULT at 1.25x, BUSE's multiple sits at the low end, which may reflect the thinner equity cushion and opaque revenue composition rather than a mispricing alone.
ROE Propped Up by Thin Equity Base
As reported in the ratio data, BUSE's ROE of 2.0% to 2.6% in recent quarters combines a roughly 0.3% ROA with equity-to-assets near 0.12 to 0.14, implying leverage contributes meaningfully to the headline return.
Decomposing ROE, a return on assets near 0.3% multiplied by an equity multiplier of roughly 7 to 8 times produces the observed ROE, meaning the return profile depends heavily on balance sheet leverage rather than asset-level profitability. The quarterly ROE figures are modest in absolute terms, and the negative reading in Q1 2025 illustrates how a single provision event can erase several quarters of return. Investors should monitor whether ROA can rise toward peer levels, since leverage-driven ROE with a thin equity cushion carries more risk than the same return generated through asset yield.
Margin Compression and Erratic Efficiency Signals
BUSE's reported net interest margin fell to 0.8% in Q3 2026 from 0.9% in early 2026, while the efficiency ratio swung between 57.6% and 92.2%, suggesting operating leverage is difficult to read from the reported figures.
The NIM movement from 0.9% to 0.8% points to modest compression that is consistent with deposit cost pressure in a higher-rate environment, though the Q2 2026 reading of negative 1.6% appears to be a reporting anomaly rather than an economic signal and should not be used for trend analysis. The efficiency ratio's wide range, from 92.2% in Q1 2025 to 57.6% in Q3 2026, likely reflects acquisition integration timing and revenue base distortion more than a structural change in cost control. Until revenue is reconciled on an organic basis, the efficiency trend warrants caution rather than conclusion.
Thin Equity Cushion Constrains Capital Return
Based on BUSE's reported figures, equity-to-assets sits between 0.11 and 0.14 across recent quarters, implying a limited capital buffer relative to an enlarged asset base of roughly $18 to $19 billion.
The provided data does not include CET1, Tier 1, or total risk-based capital ratios, so regulatory capacity cannot be assessed directly, and any conclusion about capital headroom is inference from the equity-to-assets proxy alone. A ratio near 0.12 is thin for a regional bank that has recently grown its balance sheet by over 50%, and this may constrain buyback capacity relative to the dividend commitment. Investors should obtain the regulatory capital ratios from filings before drawing firm conclusions about capital return capacity.
P/B Misreads Leverage and Acquisition Accounting
The price-to-book multiple is most commonly misapplied to BUSE because the book value base reflects acquisition accounting and leverage that the reported P/B figure does not adjust for.
A P/B of 1.03 appears inexpensive on its face, but book value per share has been shaped by recent acquisitions whose purchase accounting may carry intangibles and fair value marks that distort the equity base, and tangible book value is the more appropriate denominator for a bank with this history. The metric also obscures the leverage embedded in the equity-to-assets ratio, so a low P/B may reflect a thin capital cushion rather than undervaluation. Investors should instead anchor on P/TBV combined with a return on tangible common equity, which better isolates the economic return on capital the market is actually pricing.